John Laing Group plc Director/PDMR Shareholding (6809Z)

TIDMJLG

RNS Number : 6809Z

John Laing Group plc

21 May 2019

21 May 2019

John Laing Group plc (the "Company")

Notification and public disclosure of transaction by person discharging managerial responsibilities ("PDMR") and persons closely associated with them in accordance with the Market Abuse Regulations.

Luciana Germinario Buy-Out Award

As set out in the announcement made on 23 January 2019, and in the Remuneration Report in its Annual Report and Accounts, on 16 May 2019, the Company's new Chief Financial Officer, Luciana Germinario, was granted awards as nil cost options over ordinary shares of 10p each in the Company ("Shares"), as follows:

 
 Award   Number of Shares   Value of Award   Vesting Date    Exercise 
                                                              Price 
 A       24,314             USD119,731       15 September    Nil 
                                              2019 
        -----------------  ---------------  --------------  --------- 
 B       13,182             USD64,911        10 March 2020   Nil 
        -----------------  ---------------  --------------  --------- 
 C       3,528              USD 17,370       15 September    Nil 
                                              2020 
        -----------------  ---------------  --------------  --------- 
 D       16,964             USD83,535        10 March 2021   Nil 
        -----------------  ---------------  --------------  --------- 
 E       3,528              USD17,370        15 September    Nil 
                                              2021 
        -----------------  ---------------  --------------  --------- 
 F       3,528              USD17,371        15 September    Nil 
                                              2022 
        -----------------  ---------------  --------------  --------- 
 Total   65,044             USD 320,288 
        -----------------  ---------------  --------------  --------- 
 

These awards have been granted in connection with the recruitment of Luciana Germinario and her appointment as Chief Financial Officer of the Company. The awards are intended to compensate her for unvested awards granted by her former employer and which were forfeited on her joining the Company.

The awards have been granted in reliance on Listing Rule 9.4.2(2) and in accordance with the Company's current Directors' Remuneration Policy.

The awards will vest on the dates provided above, subject to Luciana's continued service with the Company.

Long-Term Incentive Plan Grant

On 16 May 2019, awards over ordinary shares of 10p each (the "Shares") in the Company were made to Luciana Germinario under the John Laing Group plc Long-Term Incentive Plan 2015 ("LTIP"), as follows:

 
 PDMR                  Number of Shares under 
                        award 
 Luciana Germinario    126,623 
                      ----------------------- 
 

No consideration was paid for the grant of the awards which are structured as nil-cost options.

The vesting of an award is ordinarily subject to the grantee's continued service until the third anniversary if the grant of the awards and the satisfaction of performance conditions (measuring the Company's net asset value growth and relative total shareholder return performance over a performance period comprising three financial years). Once vested, the awards are ordinarily exercisable until 16 May 2029. Shares acquired under Luciana's award are subject to a two year post award vesting date holding period (on a net of tax basis).

Details of the full notifications received by the Company are set out below.

 
 
  1      Details of the person discharging managerial responsibilities 
         / person closely associated 
 
  a)     Name                               Luciana Germinario 
      ---------------------------------  ---------------------------------------------- 
 
  2      Reason for the notification 
      --------------------------------------------------------------------------------- 
 
  a)     Position/status                    Chief Financial Officer 
      ---------------------------------  ---------------------------------------------- 
 
  b)     Initial notification/Amendment     Initial Announcement 
      ---------------------------------  ---------------------------------------------- 
 
  3      Details of the issuer, emission allowance market participant, 
         auction platform, auctioneer or auction monitor 
      --------------------------------------------------------------------------------- 
 
  a)     Name                               John Laing Group plc 
      ---------------------------------  ---------------------------------------------- 
 
  b)     LEI                                213800GLLXRSIIKN6I12 
      ---------------------------------  ---------------------------------------------- 
 
  4      Details of the transaction(s): section to be repeated for 
         (i) each type of instrument; (ii) each type of transaction; 
         (iii) each date; and (iv) each place where transactions 
         have been conducted 
      --------------------------------------------------------------------------------- 
 
  a)     Description of the financial       Ordinary Shares of 10 pence each in 
         instrument, type of                John Laing Group plc 
         instrument 
                                            GB00BVC3CB83 
         Identification code 
      ---------------------------------  ---------------------------------------------- 
 b)     Nature of the transaction         Grant of nil cost option awards in reliance 
                                           on Listing Rule 9.4.2(2). 
      ---------------------------------  ---------------------------------------------- 
                                          Price(s)      Volume(s) 
  c)     Price(s) and volume(s)           ------------ 
                                           GBP00.0000    24,314 
         Award of Shares - A                            ---------- 
                                           GBP00.0000    13,182 
         Award of Shares - B                            ---------- 
                                           GBP00.0000    3,528 
         Award of Shares - C                            ---------- 
                                           GBP00.0000    16,964 
         Award of Shares - D                            ---------- 
                                           GBP00.0000    3,528 
         Award of Shares - E                            ---------- 
                                           GBP00.0000    3,528 
         Award of Shares - F                            ---------- 
      ---------------------------------  ---------------------------------------------- 
d)     Aggregated information 
        - Aggregated volume                    65,044 
        - Price                                GBP00.0000 
      ---------------------------------  ---------------------------------------------- 
e)     Date of the transaction           16 May 2019 
      ---------------------------------  ---------------------------------------------- 
f)     Place of the transaction           Outside a trading venue 
      ---------------------------------  ---------------------------------------------- 
 
  4      Details of the transaction(s): section to be repeated for 
         (i) each type of instrument; (ii) each type of transaction; 
         (iii) each date; and (iv) each place where transactions 
         have been conducted 
      --------------------------------------------------------------------------------- 
 
  a)     Description of the financial       Ordinary Shares of 10 pence each in 
         instrument, type of                John Laing Group plc 
         instrument 
                                            GB00BVC3CB83 
         Identification code 
      ---------------------------------  ---------------------------------------------- 
 b)     Nature of the transaction         Grant of nil cost option award under 
                                           the John Laing Group plc Long-Term Incentive 
                                           Plan 2015 
      ---------------------------------  ---------------------------------------------- 
                                          Price(s)      Volume(s) 
  c)     Price(s) and volume(s)           ------------ 
                                           GBP00.0000    126,623 
         Award of Shares -LTIP                          ---------- 
      ---------------------------------  ---------------------------------------------- 
d)     Aggregated information 
        - Aggregated volume                    N/A Single Transaction 
        - Price 
      ---------------------------------  ---------------------------------------------- 
e)     Date of the transaction            16 May 2019 
      ---------------------------------  ---------------------------------------------- 
f)     Place of the transaction           Outside a trading venue 
      ---------------------------------  ---------------------------------------------- 
 

Enquiries:

Clare Underwood

Group Company Secretary

John Laing Group plc

1 Kingsway

London

WC2B 6AN

Tel: [phone]

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May 21, 2019 05:00 ET (09:00 GMT)